Fair value of financial instruments (Tables)

9 Months Ended

Sep. 30, 2017

Fair Value Disclosures

Fair Value By Balance Sheet Grouping Text Block

		September 30, 2017
		Carrying
(In thousands)		amount		Level 1		Level 2		Level 3		Fair value
Financial Assets:
Cash and due from banks		$	517,437	$	517,437	$	-	$	-	$	517,437
Money market investments			5,488,212		5,479,268		8,944		-		5,488,212
Trading account securities, excluding
	derivatives[1]		45,951		-		44,787		1,164		45,951
Investment securities available-for-sale[1]			9,061,001		-		9,059,713		1,288		9,061,001
Investment securities held-to-maturity:
	Obligations of Puerto Rico, States
	and political subdivisions	$	92,369	$	-	$	-	$	73,460	$	73,460
	Collateralized mortgage
	obligation-federal agency		69		-		-		73		73
	Other		1,000		-		742		237		979
Total investment securities
	held-to-maturity	$	93,438	$	-	$	742	$	73,770	$	74,512
Other investment securities:
	FHLB stock	$	64,208	$	-	$	64,208	$	-	$	64,208
	FRB stock		94,644		-		94,644		-		94,644
	Trust preferred securities		13,198		-		13,198		-		13,198
	Other investments		1,915		-		-		5,091		5,091
Total other investment securities		$	173,965	$	-	$	172,050	$	5,091	$	177,141
Loans held-for-sale		$	68,864	$	-	$	-	$	70,499	$	70,499
Loans not covered under loss sharing
	agreement with the FDIC		22,559,594		-		-		20,896,277		20,896,277
Loans covered under loss sharing
	agreements with the FDIC		491,797		-		-		483,155		483,155
FDIC loss share asset			48,470		-		-		37,703		37,703
Mortgage servicing rights			180,157		-		-		180,157		180,157
Derivatives			14,234		-		14,234		-		14,234
		September 30, 2017
		Carrying
(In thousands)		amount		Level 1		Level 2		Level 3		Fair value
Financial Liabilities:
Deposits:
	Demand deposits	$	26,636,413	$	-	$	26,636,413	$	-	$	26,636,413
	Time deposits		7,612,523		-		7,504,546		-		7,504,546
Total deposits		$	34,248,936	$	-	$	34,140,959	$	-	$	34,140,959
Assets sold under agreements to
	repurchase	$	374,405	$	-	$	374,377	$	-	$	374,377
Other short-term borrowings[2]		$	240,598	$	-	$	240,598	$	-	$	240,598
Notes payable:
	FHLB advances	$	629,072	$	-	$	629,538	$	-	$	629,538
	Unsecured senior debt securities		446,351		-		470,043		-		470,043
	Junior subordinated deferrable
	interest debentures (related to
	trust preferred securities)		439,344		-		411,776		-		411,776
	Others		17,294		-		-		17,294		17,294
Total notes payable		$	1,532,061	$	-	$	1,511,357	$	17,294	$	1,528,651
Derivatives		$	12,841	$	-	$	12,841	$	-	$	12,841
Contingent consideration		$	166,876	$	-	$	-	$	166,876	$	166,876

		December 31, 2016
		Carrying
(In thousands)		amount		Level 1		Level 2		Level 3		Fair value
Financial Assets:
Cash and due from banks		$	362,394	$	362,394	$	-	$	-	$	362,394
Money market investments			2,890,217		2,854,777		35,440		-		2,890,217
Trading account securities, excluding
	derivatives[1]		59,796		-		53,118		6,678		59,796
Investment securities available-for-sale[1]			8,209,806		-		8,208,414		1,392		8,209,806
Investment securities held-to-maturity:
	Obligations of Puerto Rico, States
	and political subdivisions	$	96,027	$	-	$	-	$	73,540	$	73,540
	Collateralized mortgage
	obligation-federal agency		74		-		-		78		78
	Other		2,000		-		1,738		220		1,958
Total investment securities
	held-to-maturity	$	98,101	$	-	$	1,738	$	73,838	$	75,576
Other investment securities:
	FHLB stock	$	58,033	$	-	$	58,033	$	-	$	58,033
	FRB stock		94,672		-		94,672		-		94,672
	Trust preferred securities		13,198		-		13,198		-		13,198
	Other investments		1,915		-		-		4,987		4,987
Total other investment securities		$	167,818	$	-	$	165,903	$	4,987	$	170,890
Loans held-for-sale		$	88,821	$	-	$	504	$	89,509	$	90,013
Loans not covered under loss sharing
	agreement with the FDIC		22,263,446		-		-		20,578,904		20,578,904
Loans covered under loss sharing
	agreements with the FDIC		542,528		-		-		515,808		515,808
FDIC loss share asset			69,334		-		-		63,187		63,187
Mortgage servicing rights			196,889		-		-		196,889		196,889
Derivatives			14,094		-		14,094		-		14,094
		December 31, 2016
		Carrying
(In thousands)		amount		Level 1		Level 2		Level 3		Fair value
Financial Liabilities:
Deposits:
	Demand deposits	$	22,786,682	$	-	$	22,786,682	$	-	$	22,786,682
	Time deposits		7,709,542		-		7,708,724		-		7,708,724
Total deposits		$	30,496,224	$	-	$	30,495,406	$	-	$	30,495,406
Assets sold under agreements to
	repurchase	$	479,425	$	-	$	479,439	$	-	$	479,439
Other short-term borrowings[2]		$	1,200	$	-	$	1,200	$	-	$	1,200
Notes payable:
	FHLB advances	$	672,670	$	-	$	671,872	$	-	$	671,872
	Unsecured senior debt		444,788		-		466,263		-		466,263
	Junior subordinated deferrable
	interest debentures (related to
	trust preferred securities)		439,323		-		399,370		-		399,370
	Others		18,071		-		-		18,071		18,071
Total notes payable		$	1,574,852	$	-	$	1,537,505	$	18,071	$	1,555,576
Derivatives		$	12,842	$	-	$	12,842	$	-	$	12,842
Contingent consideration		$	153,158	$	-	$	-	$	153,158	$	153,158